The Bank of England declared this week that the UK economy is on the road to recovery after a turbulent year. The central bank said Britain's economy is recovering from the coronavirus recession faster than expected as the vaccine rollout continues. Governor Andrew Bailey and his colleagues look set to raise its growth forecasts for the UK when it publishes its latest monetary policy report on Thursday. Nevertheless, with many losing their jobs over the last 12 months, the Government has been pressured to provide strong support.
The SNP's Westminster leader made an especially strong demand, as Ian Blackford called for £100billion in stimulus funding.
In February he said: “That means a major fiscal stimulus of at least £98 billion – the equivalent of 5% of GDP – to protect people’s livelihoods and lay the foundations of an investment-led recovery.
“The UK economy has suffered a record slump, shrinking by 9.9% in 2020.
“UK unemployment has risen to 5 percent, redundancies are at a record high, and there are over 800,000 fewer people in work.Insurance Loans Mortgage Attorney Credit Lawyer
Ian Blackford news: Blackford hit out at Sunak (Image: getty)
Ian Blackford news: Blackford called for a £100billion stimulus package (Image: getty)
“We must not have a repeat of the Thatcher years – when the Tories left people on the scrapheap and caused lasting scars on our communities by failing to act."
The Treasury responded to his comments, saying: “The UK Government has protected nearly a million jobs and thousands of businesses in Scotland since the start of the pandemic.
“And just this week the Treasury provided the Scottish Government with an additional £1.1 billion, enabling them to support people, businesses and public services affected by coronavirus.
“At the Budget the Chancellor will set out the next stage of our plan to protect and create jobs in all corners of the UK.”
In October, the SNP chief and Scottish First Minister Nicola Sturgeon branded Mr Sunak's approach to Scotland "intolerable" and unacceptable" after he announced new grants for businesses and an extension of the job support scheme, but didn't hand Scotland any cash